By Canadian Press

A by-the-numbers look at the Liberal government’s Canada Child Benefit

Jul 19, 2018 | 2:30 PM

OTTAWA — Government ministers and Liberal MPs held dozens of events Thursday to highlight two years since the Liberals introduced the Canada Child Benefit. Starting Friday, the value of the means-tested benefit goes up to keep pace with inflation.

Some numbers about the benefit to keep in mind:

$23.7 billion: Planned spending on the child benefit this fiscal year

$25.1 billion: Budgeted spending on the child benefit in fiscal year 2022-23

3.7 million: Families across Canada who receive the benefit

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20: Estimated percentage of eligible Indigenous families on-reserve who are missing out on payments

$2,300: Average increase per year for families than the previous system

$6,496: New maximum annual benefit for a child under six

$6,400: Previous annual maximum for each child under six prior to payments being indexed to inflation

$5,481: New maximum annual benefit for a child age six to 17

$5,400: Previous annual maximum for each child six to 17 prior to payments being indexed to inflation

$30,450: Income level above which the government begins to reduce the value of benefit payments

300,000: Children the government estimates will be lifted above the low income cut-off as a result of the child benefit

The Canadian Press